our fixed rate ends soon. We are unsure if we should refix for 2 or 5 years.
2 years is £250 more a month than we pay now
5 years is £325 a month more than we pay now.
i have been looking on mse for advice but i find it a bit confusing and the price increases are stressing me out.
we can afford either but obviously the more expensive rise makes thing tighter, but i'm worried about fixing for 5 but rates dropping substantially in the meantime.
is that likely? Or are the very low rates a thing of the past and they are likely to hover around this for the next few years anyway?